Syllabus for Economics 2306 - Western Kentucky University

Syllabus for Economics 323 – Sports Economics
Dr. Dennis P. Wilson
Section 001:
Office Hours:
423 Grise Hall
MW 9:30-11:00 or by appointment
Fall 2013
Grise Hall 439
12 :45 – 2:05
Course Objectives or Goals
To understand how economic theory applies to the spectator sport industry. In particular, the course will
cover issues involved in the industrial organization of sports, labor economics, and public finance of sports
at both the amateur and professional levels. Students successfully completing this course should leave with
an understanding of these basic economic concepts and their applicability to real world situations. You
should also be able to incorporate the tools of economic analysis into your own decision-making processes.
All readings will be made available at the course web page.
All readings are expected to have been completed prior to the day of discussion.
Grading System
The final letter grade for the course will be determined on a 10 percentage points-scale:
A: 100 – 90%
B: 90 – 80%
C: 80 – 70%
D: 70 – 60%
F: 60 - below
One’s grade is determined by there performance on two mid term exams (25% each), a final exam (25%),
an economic analysis papers and presentation (15%) and classroom assignments and the quality of their
participation in class (10%).
Instructions for the group analysis papers will be given at a future date. Exams will consist of some
combination of multiple choice and short answer, essay, and graphical analysis questions.
Exams are on September 26 and November 5 with the Final on December 10.
Attendance is mandatory, thus all material assigned and covered in class is fair game for exam questions.
Makeup Exams and Late Assignments
Makeup exams are given ONLY for excused absences or if the student has obtained the instructor’s PRIOR
approval. If you miss an exam with an unexcused absence you will receive a zero for that exam.
Assignments that are not turned in at the beginning of the class period on the day they are due will not be
accepted unless previous arrangements have been made with the instructor. The University defines the
following as excused absences: illness of the student or serious illness of a member of the student’s
immediate family; death of a member of the student’s immediate family; university sponsored trips; or
major religious holidays. In each case, written verification will be required and permission to miss an exam
must be secured before the scheduled exam time unless the cause of the absence is unforeseen. IF YOU
Grievance Procedure
Anyone feeling that a dispute exists after the grading of any assignment or exam may submit a written
grievance. This grievance should identify the item in dispute and arguments supporting the student’s
position. Grievances must be submitted in writing within two class periods following the return of the
assignment. The instructor agrees to return a written response to the student’s grievance within two class
periods from receipt of the grievance.
Cheating is in no way tolerated at the Western Kentucky University. Anyone caught cheating will be
penalized severely. The full penalty will be determined in consultation with the Chairman of the
Department of Economics and Dean of the College of Business. The minimum penalty is an “F” for the
Practice Assignments
Completing practice assignments is a vital means to assist you in learning the material. Practice
assignments provide feedback to you about your personal level of understanding and feedback to me about
the overall level of understanding in the class.
Course Expectations
Students are expected to read assigned material prior to class and participate in class discussion and
projects. Do not be afraid to participate and if you have a question, never let it go unanswered. If you do
not get an opportunity to ask your question during class, stop by during my office hours or contact me via
Many students find economic concepts difficult to grasp. Missing class will only make the process of
absorbing this material more difficult. I will also present material in class that may not be found in the text.
If you find yourself falling behind or having problems with the material, I encourage you to come to me for
assistance or visit the economic tutor.
1. Late Arriving: If you are no more than 5 minutes late for class, you are welcome to enter the
classroom. However, I strongly suggest that you quickly and quietly be seated at the nearest space
available. If you are later than 5 minutes, do not enter the classroom.
2. Private Conversations: This behavior is rude to your classmates who would like to hear the lecture, it
makes it very difficult for me to concentrate as I conduct class (not to mention it angers me), and will not
be tolerated. Violators will be asked to leave, repeat offenders will not be allowed back.
3. Cell Phones: All cell phones should be turned off before entering class. If you fail to do so and it rings
during class, do not answer it. Simply, gather your things, leave quickly and quietly, and return for the
next class period. Repeat offenders will not be allowed back.
4. Leaving Early: If you cannot attend the entire class, please do not attend. If nature calls so loudly that
you must answer, please gather your things, leave quietly, and return for the next class period.
Drop Policy
It is the student’s responsibility to complete the course or withdraw from the course in accordance with University Regulations.
Students are strongly encouraged to verify their grade status before dropping a course after the first withdrawal date. A student who
drops a course after the first withdrawal date may receive an “F” in the course if the student is failing at the time the course is dropped.
Americans with Disabilities Act
As a faculty member, I am required by law to provide “reasonable accommodation” to students with disabilities, so as not to
discriminate on the basis of that disability. Student responsibility primarily rests with informing faculty at the beginning of the
semester and in providing authorized documentation through designated administrative channels.
Tentative Course Outline and Readings
This is the sequence of lecture topics that will be covered in this course. More than one topic maybe
covered on any given day and if time becomes a constraint various topics maybe dropped. The material
covered in class is not taken directly from the readings, but students are accountable for both sources.
Section 0: Introduction and Economics Review
Supply and Demand Theory
Firm Theory
Introduction to Regression Analysis
Section 1: Market Structure of Sports
The Economics of Sports Leagues
Professional Team Sports
Section 2: Sports Demand
Attendance Demand
Uncertainty of Outcome
Competitive Balance
TV Demand
Section 3: Sports Labor Markets
Player Salaries
Why are Athletes Paid So Much?
Player's Salaries: Free Agency v. Arbitration
Discrimination in Professional Sports
Player Restriction, Rules, and Product Management
Section 4: The NCAA and College Athletics
The Business of College Sports
The NCAA as a Cartel
College Athletics: Financial Boon or Bust?
College Athletic Participation - Income & Graduation
Title IX
Section 5: Economic Impact of Professional Sports (subject to change)
Economic Impact Studies
The Economic Impact of Sports Teams and Facilities
The Employment Impact of Teams and Sports Facilities
Ex: Super 12 Match in Taranaki, New Zealand
Tuesday December 10, 10:30 – 12:30